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National Pension Scheme, Pradhan Mantri Suraksha Vima Yojana, Pradhan Mantri Jeevan Jyoti Vima Yojana, Atal Pension Yojana, Indian Post Payments Bank.

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(A) National Pension Scheme:

  • The National Pension Scheme is a voluntary contribution of the pension system in India which is sponsored by the government of India.
  • This scheme was started by the Government of India in 2004 for all government employees.
  • The scheme was made open to all citizens in 2009. It is a voluntary and long-term retirement scheme. It is regulated by Pension Fund Regulatory and Development Authority (PFRDA) and the central government.
  • Any employee from the public, private, and even the unorganized sectors can opt for this.
  • Personnel from the armed forces are not allowed. The scheme is open to all across industries and locations.

(B) Pradhan Mantri Suraksha Vima Yojana:

  • The scheme is available to people in the age group 18 to 70 years with a bank account who give their consent to join/enable auto-debit on or before 31st May for the coverage period 1st June to 31st May on an annual renewal basis.
  • Aadhar would be the primary KYC for the bank account. The risk coverage under the scheme is ₹ 2 lakh for accidental death and full disability and ₹ 1 lakh for partial disability.
  • The premium of 112 per annum is to be deducted from the account holder’s bank account through ‘auto-debit facility in one installment.

(C) Pradhan Mantri Jeevan Jyoti Vima Yojana:

  • Pradhan Mantri Jeevan Jyoti Vima Yojana is available to people between 18 and 50 years of age with a bank account.
  • This scheme was launched on 9th May 2015 by Prime Minister Narendra Modi in Kolkata.
  • It has an annual premium of ₹ 330. In case of death due to any cause, the payment to the nominee will be ₹ 2 lakh.
  • As of 31st March 2019, 5.92 crore people have already enrolled for this scheme.

(D) Atal Pension Yojana:

  • Atal Pension Yojana is a pension scheme under the Government of India.
  • This scheme replaces the Swavalamban Yojana and was established to provide old age income security to the workers belonging to the unorganized sector.
  • The Atal Pension Yojana was launched by Prime Minister Narendra Modi on 9th May 2015 in Kolkata.
  • The scheme focuses on encouraging workers of the unorganized sectors to save for their future (Age limit 18-40 years).

(E) Indian Postal Payments Bank :

  • The Indian Postal Payment Bank was launched on September 1, 2018, by Prime Minister Narendra Modi that aims at making banking services available at people’s doorstep.
  • This is a 100% Government-owned public sector bank, operating with the Department of Posts under the Ministry of Communications.
  • IPPB would be like any other bank but it will operate at a smaller scale without involving any credit risks and can’t issue advance loans or issue credit cards.

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